Overview Of Market
Last updated
Last updated
Blockchain games and NFTs are taking the world by storm. Tens of millions of people worldwide play on-chain games, with billions of dollars poured into developing on-chain assets and properties. According to Loup Funds, Core NFT gaming will total $2.7 billion in volume in 2021, about 13% of total NFT volume. Play-to-Earn or P2E games are a booming NFT market begging for more competition.
The global gaming market is expected to grow from $175.8 billion in 2021 to over $200 billion by 2023 (Newzoo's Global Gaming Market Report)
Traditional game players have in-game assets, only the power to play but no actual property rights, and the project owner is like a dictator who decides the future direction of the game. In-game assets that players pay a lot of time and money for may become worthless because of a single update from the project owner. These Centralization settings give players a bad experience.
The future is now - in-game items, land, houses, avatars - everything is stored on the chain, everything is transferable, and in-game assets genuinely belong to the player. In the metaverse, players grow together with the program. Game guilds and DAO organizations make it possible for players to play games freely, be deeply involved in the game's development, and determine the renewal and growth of the metaverse. From just playing to voting, decision making, and action. The metaverse is turning into a second life for players.
